MIAMI – Vince McMahon introduced Friday he is retiring as WWE’s chairman and CEO.
He launched the next assertion:
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE. Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.”
According to a Wall Street Journal report, McMahon paid greater than $12 million to 4 girls to cowl up “allegations of sexual misconduct and infidelity.”
The girls, all of whom had been concerned with WWE, signed agreements with McMahon that “prohibit them from discussing potential legal claims against or their relationships with the 76-year-old executive.”
The report of the hush cash, which the Journal mentioned was paid over 16 years, is the newest a part of a company firestorm for McMahon.
Last month one other report from the Journal mentioned the corporate’s board was investigating McMahon for agreeing to pay a secret $3 million settlement to a former worker with whom he allegedly had an affair. That girl is among the many 4 talked about within the new report.
The longtime WWE boss had agreed to step again from his position as chairman and CEO whereas the investigation is ongoing.
“I have pledged my complete cooperation to the investigation by the special committee, and I will do everything possible to support the investigation,” McMahon mentioned in an announcement final month. “I have also pledged to accept the findings and outcome of the investigation, whatever they are.”
McMahon’s daughter, Stephanie, has been appearing as interim CEO and chairwoman, although it is unclear if she is going to take over completely.
The firm mentioned final month that McMahon would proceed to seem as his character throughout matches, however that’s now additionally up within the air.
“I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan,” he mentioned in Friday’s assertion. “As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”
